British consumer payments platform Zilch has agreed to acquire Lithuania-based specialised bank Fjord Bank, a Norwegian-owned lender with about 103 million euros in assets.
Zilch said the companies signed an agreement for the purchase of 100% of Fjord Bank’s shares. Financial terms were not disclosed.
The acquisition would give Zilch a European banking license and support faster expansion across the continent, the company said. Zilch plans to establish its European headquarters in Lithuania.
“By combining Fjord’s banking expertise and regulatory structure with Zilch’s data, AI and operating model, we will be able to scale next-generation consumer finance solutions across Europe, just as we have done in the United Kingdom,” Zilch co-founder and CEO Philip Belamant said in a statement.
Fjord Bank CEO Veiko Kandla said joining Zilch would accelerate growth, broaden the product offering and provide access to a significantly larger customer base.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
Fjord Bank received its specialised bank license in Lithuania in December 2019 and has been providing consumer financing and savings services since 2021. In addition to Lithuania, the bank operates in Estonia, the Netherlands, Germany, Spain, and Ireland.
Zilch said it has raised more than 150 million euros in debt and equity over the past year, exceeded 171 million euros in annual revenue, obtained a second UK Financial Conduct Authority payments license, launched its AI-powered Zilch Intelligent Commerce product, and surpassed 5.5 million registered users.
Newsletter
Every Friday morning.
